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Economy News

The Economic Times

Economy / The Economic Times

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BRICS has the oil jackpot. Now comes the hard part

BRICS is gaining weight in global energy markets as its 11 members include major oil producers such as Russia, Saudi Arabia, Iran and the UAE, along with major consumers India and China. The grouping accounts for roughly 41-47% of global crude oil production, but differences among members make a common energy policy difficult.

12 Sep 2026 9:01 am